Matilda Exploration Update

Serabi Gold (AIM: SRB, TSX: SBI), the Brazilian-focused gold producer and developer has released exploration update from its activities on the Matilda Copper Project in the Tapajos region of Para State, Northern Brazi. The project is being developed as part of the Exploration Alliance established with Vale SA (Mkt Cap: $58.7bn) in May this year.

SP Angel Morning View: Iron ore rises on low inventories as gold and copper climb ahead of US inflation data

FY23 Interim Results

Serabi Gold (AIM: SRB, TSX: SBI), the Brazilian-focused gold producer and developer has this morning released interim results.

SP Angel Morning View: Weak Chinese PMI adds further evidence of the need for pro-stimulus measures

Q2 Trading Update - Strong Q2

Serabi Gold (AIM: SRB, TSX: SBI), the Brazilian-focused gold producer and developer has this morning released their operational results for the second quarter of 2023 and provided a review of its development and exploration activities.

SP Angel Morning View:Weak China exports encourage calls for more government stimulus

SP Angel Morning View: Weaker than expected Chinese PMI data weigh on risk sentiment

Anglo Asian Mining* (AAZ LN) – BUY 204p – Gilar drilling confirms and extends higher grade deeper zone Beowulf Mining* (BEM LN) – Q1/23 financials Celsius Resources* (CLA LN) – BUY MCB project NPV@8% US$463m – MCB Project awarded Environmental Compliance Certificate Golden Metal Resources (GMET LN) – Geological encouragement from Nevada exploration at the Golconda Summit project Goldstone Resources* (GRL LN) – Q1/23 production struggled with new mobile equipment and improvements in the proces

Q1 Financial Results

Serabi Gold (AIM: SRB, TSX: SBI), the Brazilian-focused gold producer and developer has this morning released its unaudited Q1 2023 financial results.

Vale Exploration Alliance

Serabi Gold (AIM: SRB, TSX: SBI), the Brazilian-focused gold producer and developer has today announced a strategic exploration alliance with Vale S.A. through its subsidiary Salobo. The exploration is focused on the Matilda prospect and other regional targets in the Tapajos.

Hybridan Small Cap Feast - 09 May 23

9th May 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objective

Hybridan Small Cap Feast - 19 Apr 23

19 April 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv

Q1 2023 Update

Serabi Gold (AIM: SRB, TSX: SBI), the Brazilian-focused gold producer and developer has today released its Q1 production numbers. First quarter gold production was 8.0koz 13% higher YoY (Q1 2022 7.1Koz). This was also slightly ahead of our estimate (7.8koz). The contribution from Coringa was 2.2Koz and helped contribute to plant feed grades of 6.49g/t – the highest since Q3 2021. We note that today's quarterly announcement has been somewhat overshadowed by a significant drop in the share pri

Chariot Limited (AIM: CHAR): Imminent partner in Morocco

• The US$2.7 mm cash position at the end of June is in line with our expectations. • Although inflation across the industry and rig availability had complicated and delayed the finalization of a farm-in agreement for Anchois in Morocco, negotiations on partnering are in the final stages. A partner could be announced very soon. • Progress has been made across the portfolio. Onshore Morocco, permitting is under way with drilling now expected to start in early 2024 with up to four wells. Prospects

LIBERUM: Trident Royalties: Benefitting from rising rate environment

LIBERUM: Trident Royalties*: Utah lithium royalty acquisition

Interim Results

Diversified reported strong interim results, with production that was marginally below our estimate more than outweighed by tight cost control to deliver EBITDA ahead of our forecast; we broadly retain our FY23 estimates.

Savannah Energy+ (SAVE, Suspended, Under Review) - Interim results; readmission now expected in Q4

Pantheon Resources - Positive Outlook for Pantheon Resources

We believe that the outlook for Pantheon Resources is significantly improving.

Touchstone Exploration+ (TXP, House Stock at 68p) - Cascadura production update

Central Asia Metals: H1 2023 Interim Results

Central Asia Metals (CAML LN) results in H1 2023 follow a record prior comparable period, with the swing between the two primarily due to commodity price performance. H1 2023 net revenue of US$93.6m was down 18% YoY, EBITDA of US$48.9m was down 35% YoY. COGS was up 9.8% YoY given global inflationary pressures. Other charges on the P&L were minimal particularly now CAML is debt free. Owing to the timing of tax charges and some unfavourable working capital movements which we expect to be resolved

Touchstone Exploration+ (TXP, House Stock at 62p) - Cash generation and scale in Trinidad to the fore

Bushveld Minerals: H1 results; progress at Vanchem post period end

Bushveld Minerals (“BMN”) has released its results for H1 2023 having already released production of 1,784t at a weighted average cash cost of US$26.6/kgV, with H1 sales of 2,096tV through destocking during the period. Revenue for the period was US$78.4m, with adj EBITDA of US$10.3m and attributable NPAT of -US$14m. The company finished H1 with US$3.7m of cash and US$90.7m of debt. We expect H2 production of 1,992tV, split between 925tV from Vanchem and 1,067tV from Vametco, bringing full year p

LIBERUM: Lithium - Rock Developers: EMH, SAV, ALL, PLL & ZNWD are all stand outs, on post-tax bases

Interim results

Bushveld delivered as robust a financial performance as could reasonably be expected in H1 2023 given the operational challenges faced. We are encouraged by the reported progress made at both Vametco and Vanchem since, and vanadium price aside (current prices are soft, and pose a downside risk if they do not recover in-line with our assumptions) we think Bushveld is broadly on course to meet our full-year estimates. But given its stressed balance sheet, concluding the refinancing of its c.US$45m

Chariot - Anchois Partnering in Final Stages

The partnering process at Anchois is now close to a conclusion, with farm-out negotiations in their final stages. The FEED phase of the Anchois gas development was completed in March, with Chariot continuing to make progress across all the Anchois technical and commercial workstreams. Post period, Chariot added the synergistic, low-cost, low-risk Loukos Onshore licence. Loukos Onshore contains several near-term drilling opportunities, which, if successful could lead to fast-tracked gas productio

Value anomaly despite resilient trading

CMD - still plenty of growth potential